[ISC] Q. 25 solution of Dissolution of Partnership Firm Chapter TS Grewal Book Class 12 (2022-23)
Are you looking for the solution to Question number 25 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2022-23 Edition for the ISC Board?
Arnab, Ragini and Dhrupad are partners sharing profits in the ratio of 3 : 1 : 1. On 31st March, 2022, they decided to dissolvef their firm. On that date their Balance Sheet was as under:
Balance Sheet of Arnab, Ragini and Dhrupad
as at 31st March, 2022
| Liabilities | ₹ | Assets | ₹ | |
| Creditors Loan by Pronoy (Arnab’s Brother) Loan by Dhrupad workmen Compensation Reservef Investment Fluctuation Reserve Capital A/cs: Arnab Ragini Dhrupad | 60,000 95,000 1,00,000 50,000 50,000 2,75,000 2,00,000 1,70,000 | Bank Debtors Less: PDD Stock Investments Building Profit and Loss A/c Advertisement Suspense A/c | 1,70,000 20,000 | 50,000 1,50,000 1,50,000 2,50,000 3,00,000 50,000 50,000 |
| 10,00,000 | 10,00,000 |
The assets were realised and the liabilities were paid as under:
(i) Arnab agreed to pay his brother Pronoy’s loan
(ii) Investments realised 20% less.
(iii) Creditors were paid at 10% less.
(iv) Building was sold for ₹ 3,55,000. Commission paid was ₹ 5,000.
(v) 50% of the stock was taken by Ragini at market price which was 20% less than the book value and the remaining was sold at market price.
(vi) Dissolution expenses were ₹ 8,000, ₹ 3,000 were to be bornef by the firm and the balance by Dhrupad. The expenses were paid by him.
Prepare Realisation Account, Bank Account and Partner’s Capital Accounts.
Solution:-
Here is the list of solutions
| S.N | Solutions |
| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
| 6 | Question – 6 |
| 7 | Question – 7 |
| 8 | Question – 8 |
| 9 | Question – 9 |
| 10 | Question – 10 |
